Alliant Energy Corporation (LNT - Free Report) reported first-quarter 2019 operating earnings of 53 cents per share, in line with the Zacks Consensus Estimate. The reported earnings came ahead of the year-ago figure by a penny.
The year-over-year improvement in earnings was primarily due to higher contribution from Utilities and Corporate Services.
Total Revenues
Total revenues in the first quarter came in at $987.3 million, increasing 7.7% year over year.
Operational Highlights
Total operating expenses were $810.4 million in the reported quarter, reflecting an increase of 7.9% from $750 million in the year-ago period. This increase in expenses can be attributed to a rise in electric production fuel and purchased power, as well as an increase in cost of gas sold.
Operating income was $176.8 million, up 6.7% from $165.7 million in the year-ago quarter.
Interest expenses were $66.3 million, reflecting an increase of 11.9% from $59.2 million in the prior-year quarter.
During the first quarter, the company’s retail electric and gas utility customers grew 0.3% and 0.4% year over year, respectively. The increase in customer count had a positive impact on volumes of electric and natural gas during the quarter.
Financial Update
Cash and cash equivalents were $10.1 million as of Mar 31, 2019, down from $20.9 million on Dec 31, 2018.
Long-term debt (excluding current portion) was $5,362.2 million as of Mar 31, 2019, higher than $5,246.3 million on Dec 31, 2018.
In first-quarter 2019, cash flow from operating activities was $181.1 million compared with $156.3 million in the year-ago period.
Guidance
Alliant Energy reiterated its 2019 consolidated earnings per share guidance in the range of $2.17-$2.31. The guidance assumes normal temperature in its service territories during the year.
For Utilities (American Transmission Company LLC and Corporate Services), earnings per share are expected within $2.14-$2.24. For ATC Holdings, the company expects earnings per share in the range of 11-13 cents. For Non-regulated and Parent, earnings are likely to have a negative impact of 6-8 cents.
Other Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (FE - Free Report) reported first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2019 adjusted earnings per share of $1.19, surpassing the Zacks Consensus Estimate of $1.10 by 8.2%.
Zacks Rank
Currently, Alliant Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Alliant Energy Corporation (LNT - Free Report) reported first-quarter 2019 operating earnings of 53 cents per share, in line with the Zacks Consensus Estimate. The reported earnings came ahead of the year-ago figure by a penny.
The year-over-year improvement in earnings was primarily due to higher contribution from Utilities and Corporate Services.
Total Revenues
Total revenues in the first quarter came in at $987.3 million, increasing 7.7% year over year.
Operational Highlights
Total operating expenses were $810.4 million in the reported quarter, reflecting an increase of 7.9% from $750 million in the year-ago period. This increase in expenses can be attributed to a rise in electric production fuel and purchased power, as well as an increase in cost of gas sold.
Operating income was $176.8 million, up 6.7% from $165.7 million in the year-ago quarter.
Interest expenses were $66.3 million, reflecting an increase of 11.9% from $59.2 million in the prior-year quarter.
During the first quarter, the company’s retail electric and gas utility customers grew 0.3% and 0.4% year over year, respectively. The increase in customer count had a positive impact on volumes of electric and natural gas during the quarter.
Financial Update
Cash and cash equivalents were $10.1 million as of Mar 31, 2019, down from $20.9 million on Dec 31, 2018.
Long-term debt (excluding current portion) was $5,362.2 million as of Mar 31, 2019, higher than $5,246.3 million on Dec 31, 2018.
In first-quarter 2019, cash flow from operating activities was $181.1 million compared with $156.3 million in the year-ago period.
Guidance
Alliant Energy reiterated its 2019 consolidated earnings per share guidance in the range of $2.17-$2.31. The guidance assumes normal temperature in its service territories during the year.
For Utilities (American Transmission Company LLC and Corporate Services), earnings per share are expected within $2.14-$2.24. For ATC Holdings, the company expects earnings per share in the range of 11-13 cents. For Non-regulated and Parent, earnings are likely to have a negative impact of 6-8 cents.
Other Utility Releases
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (FE - Free Report) reported first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2019 adjusted earnings per share of $1.19, surpassing the Zacks Consensus Estimate of $1.10 by 8.2%.
Zacks Rank
Currently, Alliant Energy carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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